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UAE Telecom Giant E& Pilots Dirham Stablecoin Payment System
Mars Finance news, according to Cointelegraph, the UAE telecommunications giant e& has signed a memorandum of understanding with Al Maryah Community Bank to test the application of Dirham stablecoin (AE Coin) in its payment infrastructure. The pilot project will allow users to pay their mobile bills, household service fees, recharge prepaid lines, and more using this stablecoin, which is licensed by the Central Bank of the UAE. e& Group CEO Hatem Dowidar stated that this stablecoin can achieve “instant settlement, full transparency, and frictionless access.”